The National Retail Federation named Doug McMillon, CEO of Walmart, The Visionary at the NRF Foundation Gala on Sunday, honoring him for his contribution to the retail industry.
Category Archives: RETAIL
Over 35,000 retailers and industry partners came to the Javits Center in New York City for NRF 2018: Retail’s Big Show. Monday marked the second day of the show, with sessions highlighting innovative entrepreneurs, established brands and a range of new retail technologies. Here are some highlights.
After years of talk, Congress is now close to actually passing meaningful, permanent tax reform. For the retail industry, this is very good news. NRF has been fighting for tax reform for years, and we are optimistic about the current effort. Tax reform is a long-sought goal that would significantly help our industry and create a fairer tax code.
NAFTA — the North American Free Trade Agreement — has been in the news a lot lately. Five official negotiating sessions have been held since August, rotating between the United States, Canada and Mexico, and two more rounds are expected in 2018.
It’s typically around this time each holiday season that panic sets in for some buyers about whether gifts they have ordered will be delivered on time. Websites have started warning customers of the last day they should order to ensure their packages arrive before Christmas. But the surge in holiday shopping is slowing down the speed of deliveries, meaning you may need to wrap things up a little earlier this year.
Target is bringing its first small-format store to the Dallas area next summer. The store will open in Preston Center in Dallas near upscale shoppers in Preston Hollow and the Park Cities.
Louis Vuitton is bringing in some robotic help for the holidays. The maker of $1,370 canvas duffle bags and $575 monogram belts has launched a “virtual adviser” on Facebook Messenger for U.S. clients, Palo Alto, California-based AI startup Mode.ai said in a statement Wednesday. The chatbot will answer queries for all things Louis Vuitton: searching the brand’s online catalog, pulling up catwalk shows and history about the brand, and giving tips for product maintenance.
From meatless meats to digital twins, the latest “emerging trends” identified by Goldman Sachs Group Inc. include technologies and investing strategies that have been around for a while. “What happens when everything old becomes new again?” the bank asked Wednesday in the second edition of its “Outsiders” series, meant to help investors “separate the hype from reality.”
BJ’s Wholesale Club — simply known as BJ’s — has 215 stores in 16 states with 25,000 associates and sells more fresh food per member per year than its competitors, says President and CEO Chris Baldwin. He sees the company as a high-frequency club store that adds immense value to its 5 million members. “We save them 25 percent a year on their grocery bill,” he says, “so our role in their lives matters.”
How many retail experts predicted Amazon’s blockbuster acquisition of Whole Foods Market? Based on news reports, one: Scott Galloway, the outspoken and often renegade professor of marketing at New York University’s Stern School of Business. Judging from the shockwaves the announcement created, most never saw it coming.